The Cross-Border Insolvency Regulations 2006

PART 8 E+W+S Misfeasance

Misfeasance by foreign representative E+W+S

29.—(1) The court may examine the conduct of a person who—

(a) is or purports to be the foreign representative in relation to a debtor; or

(b) has been or has purported to be the foreign representative in relation to a debtor.

(2) An examination under this paragraph may be held only on the application of—

(a) a British insolvency officeholder acting in relation to the debtor;

(b) a creditor of the debtor; or

(c) with the permission of the court, any other person who appears to have an interest justifying an application.

(3) An application under sub-paragraph (2) must allege that the foreign representative—

(a) has misapplied or retained money or other property of the debtor;

(b) has become accountable for money or other property of the debtor;

(c) has breached a fiduciary or other duty in relation to the debtor; or

(d) has been guilty of misfeasance.

(4) On an examination under this paragraph into a person's conduct the court may order him—

(a) to repay, restore or account for money or property;

(b) to pay interest;

(c) to contribute a sum to the debtor's property by way of compensation for breach of duty or misfeasance.

(5) In sub-paragraph (3) “foreign representative” includes a person who purports or has purported to be a foreign representative in relation to a debtor.